Research Update: Scotiabank Inverlat S.A. 'BBB/A-3' Rating Affirmed After New Bank Criteria; Outlook Stable Dec 11
- Language: English
- Published: December 2011
Standard & Poor's Ratings Services' ratings on Scotiabank Inverlat S.A. (Scotiabank) reflect its "adequate" business position, "strong" capital and earnings, "adequate" risk position, "average" funding, and "adequate" liquidity. We view Scotiabank as strategically important of its parent, but we do incorporate any notches of support in this regard at this time. The Mexican sovereign foreign currency credit ratings (BBB/Stable/A-3) limit the issuer credit ratings on Scotiabank. Our bank criteria use our Banking Industry Country Risk Assessment (BICRA) economic risk and industry risk scores to determine a bank's anchor, the starting point in assigning an issuer credit rating. Our anchor for a commercial bank operating only in Mexico is 'bbb'. In our view, the main risk for the banks operating in...
Companies mentioned in this report are: Scotiabank Inverlat, S.A.
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